Disappointment over weak economic data from Europe and elsewhere dampened equity market enthusiasm, dragging the CAC-40 more than 0.75 percent. Rising global crude oil prices, tumbling Factory Orders in Germany and falling Retail Sales in the Euro Area added to the disappointment over PMI readings released earlier.
The CAC-40 is currently trading at 7,198.94, shedding 0.77 percent from the previous close. The day’s trading has been between 7,182.13 and 7220.58.
Only 10 of the 40 scrips in the index are currently trading in positive territory.
Renault added 1.7 percent to top overnight gainers. Stellantis and Orange have gained more than half a percent.
AXA topped losses with a 2.1 percent decline.
Capgemini, BNB Paribas, LVMH, Carrefour, Credit Agricole, Sanofi, Engie, Societe Generale, all declined more than 1 percent.
The EUR/USD gained 0.24 percent to trade at 1.0745, whereas the Dollar Index shed 0.15 percent to trade at 104.65.
Bond yields hardened across Europe and in tandem, yields on France’s ten-year bonds have spiked 0.10 percent to 3.144%.
Market Analysis
CAC-40 Falls As Growth Concerns Deepen
2023-09-06 11:43:38
